Landlord is valuing flat - are we on our way out?

MattyBenwah

Hi MSE folk,

Thought I'd try these forums out for this one: my landlord is getting a valuation on our flat for checking "mortgage options".

As a non-owner I'm in the dark as to why you would get a valuation unless you were considering selling the place. Is there another potential reason for this? (we're keen to stay)

Cheers!

davidmcn

Could just be remortgaging.

iquit

I had to provide an up to date valuation of my BTL when I was applying for a residential mortgage. My tenants are still happily ensconced in the property. Hopefully this is the same in your situation.

G_M

Insurance being updated? (re-build value).


Re-mortgage?



Just general intererest in the value eg re-assessing finances generally.


Or as you say, potential sale.


Are you in a fixed term or periodic contract?

theartfullodger

Who knows: He could be re-mortgaging (no impact in you) or he could be planning to sell. Just because a landlord plans to sell (or indeed does sell) does not end your tenancy nor compel you to leave.

Landlord (current, new) if they want you out has to serve valid notice 1st (s8 or s21): Neither end your tenancy nor compel you to leave: Only a court can do that, then bailiffs.

You will be no worse off nor evicted any quicker under a new landlord than current one.

Remember, thanks to Thatcher's 1988 Housing Act a landlord can evict you for no reason at all, even if you always pay in-full & on-time, look after the place, get on with neighbours & landlord & agent: Landlord can still legally evict you: (In England & Wales: No longer true in Scotland...)

Artful: (a landlord btw..)

MattyBenwah

Thanks for input all, (protected from Maggie's clutches in Scotland thankfully)

theartfullodger

MattyBenwah wrote: »

Thanks for input all, (protected from Maggie's clutches in Scotland thankfully)

Depending on how old your tenancy is: Is it a PRT? (Private residential tenancy) - if so the old girl can't get you...